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With the approval of the National Insurance Commission (NAICOM), AIICO Insurance Plc, has announced the appointment of Olusola Ajayi as its new Executive Director (ED).
The company said Ajayi is an experienced business leader who has held various leadership positions in management consulting and insurance in Nigeria and the United Kingdom for over fifteen years. He joined AIICO in 2009 as Head of the Business Strategy and Transformation teams.
In 2013, he assumed leadership of the retail life insurance business, and has led the transformation of the agency business, by deploying cutting-edge solutions and enabling capabilities which has resulted in significant growth in the company’s annual premiums and asset under management (AUM).
Prior to joining AIICO, he worked at the prestigious consulting firm Accenture (Lagos) in the financial services market unit, before joining Deloitte Consulting (London, UK). As a business consultant in both firms, he supported business transformation initiatives in strategy, process optimization and technology deployments.
In this new position, he will oversee the Group Retail Division, with a mandate to drive growth across the group retail businesses and retaining AIICO as an industry leader.
Olusola currently serves as chairman of the board of AIICO Multishield Limited, the Group’s Health Maintenance Organisation (HMO). He holds an MBA from INSEAD and obtained his first degree in chemical engineering from the University of Lagos. He is a certified project manager as well as a senior member of the Chartered Insurance Institute of Nigeria (CIIN).
